Hyperbolic raises $7 million Seed for open-access AI infrastructure
Polychain Capital and Lightspeed Faction led the July 2024 financing to support engineering hires and cloud development.
Hyperbolic closed a $7 million Seed round on July 30, 2024, led by Polychain Capital and Lightspeed Faction. Other backers included Chapter One, LongHash, Bankless Ventures, Republic Digital, Nomad Capital, CoinSummer Labs and Third Earth Capital, alongside individual investors.
The company planned to hire engineers and develop its open-access AI cloud. At the announcement, it offered an inference service for open-source models and was inviting users to test an early version of its GPU marketplace.
The financing supported Hyperbolic’s effort to connect AI developers with compute resources across different hardware providers. The company was developing both the infrastructure used to run models and a marketplace through which GPU owners could make capacity available.
Use of funds
Hire engineers
Develop the open-access AI cloud